The UK data watchdog will conduct inquiries regarding the Worldcoin crypto project. READ

The UK data watchdog will conduct inquiries regarding the Worldcoin crypto project. READ: On July 25th, the Information Commissioner’s Office (ICO) in the UK announced that it will be investigating Worldcoin, a project spearheaded by Sam Altman, CEO of OpenAI. Worldcoin offers users the opportunity to exchange their iris scans for digital identification and receive free cryptocurrency as a reward.

In response to the project’s launch on Monday, which attracted two million trial users, the ICO spokesperson confirmed that they are aware of Worldcoin’s presence in the UK and will be conducting further inquiries. As part of its expansion, the crypto project is planning to implement eyeball-scanning operations in 20 countries, including specific sites in London.

Described on its website as a “new identity and financial network”, the Worldcoin project assigns people who sign up a digital ID which it says would distinguish humans from artificial intelligence online.

Its cryptocurrency, called the Worldcoin token, will be allocated to users who sign up in some countries, according to the website.

The Worldcoin token initially rose after its launch on Monday, hitting a peak of $3.30, and on Tuesday was at $2.01 according to market tracker CoinGecko.

The UK data watchdog will conduct inquiries regarding the Worldcoin crypto project. READ